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Automotive - Sector
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markets are likely to c 13800 levels shortly and again go back to 12k or sub 12k levels soon! earning season is ahead ! 2nd qtr results will start pouring soon! dont think one can buy fresh positions now wait n watch long term reasonable ok! ...
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Maruti\'s September sales increase over 5%
TVS Motor\'s two-wheeler Sept sales jump over 19%
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BSE Auto Index Up 0.67 Pct As Indian Auto Makers Post Healthy Sept Sales Figures.
RM India courtesy --...
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market on tuesda to open 12208 and upto 484 range=but gap down opening Wpro-297.20/TT mtr=308/Styn-292/Patni-175/MTNL= 77/=Icici bank 432.75=HDFC ban 999_infosys 1217= all to show new 52 week lows- yesterday many popular stocks reached comulsory buying rate on fundamentals-but sentiment is so crushingly week- all overdone most irrelevantly dependent on foreign cues is thoroughly baseless- fear psychosis created by foreign analysts expressing personal views for their own selfish interests and Indian market regulator just silently watching blood-bath-game without taking action to control dip down blw its worth=more than disgusting fact...
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AVIATION: Kingfisher Airlines expects to become profitable by March 2010,
subject to oil prices remaining stable at current levels.
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MARUTI SUZUKI See pressure on Jul-Sep margins higher on quarter....
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WHEN Ratan Tata claimed ownership of Jaguar Land Rover (JLR) from Ford in early June, one of the first visits he made was to the Jaguar heritage museum at the British firm’s old site near Birmingham. The 71-year-old Mr Tata recalled that his father had bought one of its first XK120 sports cars in the late 1940s. Not only was the museum able to dig out his father’s order from the archives, it also took the chairman of the Indian industrial conglomerate for a spin in a similar car. It was the kind of personal touch that both the tradition-steeped car firm, and its new owner, hope will characterise their relations.
Those relations may undergo an early test. When Tata Motors bought JLR for about $2 billion, it looked like a good deal. Thanks to Ford’s transformation of Land Rover, JLR had made profits of $650m in 2007. With its well received new mid-sized saloon, the XF, even Jaguar, a perennial lossmaker under Ford, was close to turning the corner into profit. In the first quarter of this year JLR rang up profits of $421m.
But life has since become much harder for makers of large, powerful cars. In America, where petrol at $4 per gallon means big sport-utility vehicles have suddenly fallen from favour, Land Rover’s sales fell by 31% in the year to July.
So far, booming demand in Russia (up by 106%) and China (up by 151%) have more or less plugged the gap. Land Rover’s overall sales are only 2.7% lower year-on-year than in 2007. But JLR’s new boss, David Smith, acknowledges that the second half of the year will be much tougher. Land Rover’s production is being scaled back by 25-40%, depending on the vehicle model.
A further worry for JLR is tightening environmental rules in most of its big markets. In Europe carmakers with fleets averaging more than 130 grams of CO2 per kilometre (g/km) are likely to face financial penalties by 2012. JLR is particularly exposed. Its best CO2 performer is the diesel Jaguar X-Type, which emits 154 g/km. Its worst is the Range Rover Sport which, in supercharged V8 form, chucks out 374 g/km. Even China has started to tax gas-guzzlers
Even so, the mood within JLR is upbeat. Nobody at the company will say a bad word about Ford which, it is felt, not only did its best, but is still vital to JLR’s future as a supplier of powertrains and technology. But there is inevitably a contrast between the bureaucratic ways of an ailing car giant and Tata’s willingness to give JLR a lot of autonomy. Ford’s financial problems in North America also sometimes led JLR to take what one executive describes as “the low road, rather than the high road”.
Mr Smith claims that JLR has a new nimbleness which allows it to exploit its smaller size. Strategy is set by a board consisting only of Mr Smith, Mr Tata and Ravi Kant, the head of Tata’s automotive business. Tata is committed to supporting the business plan until 2011, but the intention is that JLR should operate as a more or less independent, self-funding entity.
Mr Smith’s strategy consists of three main elements. The first is improving customer service. Jaguar is already rated highly in America by J.D. Power, a consumer-research firm, but Land Rover “is not there yet” says Mr Smith.
The second is to recognise that, although JLR cannot compete across the board with the likes of BMW, Mercedes and Audi, it can be the best in its chosen segments. Land Rover, he says, has “benchmark products” in all its segments, and the XF, rated by several car magazines as superior to equivalent German cars, has shown what Jaguar can do. A new small Land Rover, based on the LRX concept-car displayed at car shows this year, seems certain to get the go-ahead, and Jaguar’s big saloon, the XJ, will be replaced next year with something sportier and more modern-looking. Mr Smith sees both Jaguar and Land Rover going even further upmarket, pushing into territory occupied by the cheaper Bentleys and Aston Martins.
The third element is to reduce emissions. Jaguar is already a leader in lightweight aluminium construction and Mr Smith expects a 25% improvement in fuel efficiency over the next few years just by refining existing engines. But JLR is also investing $1.5 billion in new hybrids which will come on stream from 2012. Land Rover’s “e-terrain” technology, a diesel-electric hybrid powertrain with an electric rear-axle drive system, should give future Land Rovers even greater off-road ability while cutting emissions by 30%.
“It’s not just about avoiding being hit by a new tax burden,” says Mr Smith. “We have to be able to look the customer in the eye.” He could have added that he has to be able to look Mr Tata in eye, too.
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Karnataka minister confident of acquiring land for Tata Motors
Thursday, Sep 18
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BANGALORE - Karnataka government is confident of acquiring additional
land in Dharwad if Tata Motors Ltd decides to shift its small car Nano
project to state from West Bengal, Minister for Large and Medium Scale
Industries Murugesh Nirani told reporters here today.
\\\"We are not going for fertilised land. It is a single crop land, dry
land,\\\" Nirani said after a meeting with Tata Motors\\\' officials here.
Karnataka government already has in its possession 500 acres of land in
Dharwad.
Tata Motors\\\' small car project at Singur in West Bengal has been
suspended after the main opposition party Trinamool Congress protested
against it over land issue.
He said the government was happy with the outcome of today\\\'s meeting
between Tata Motors officials and Chief Minister B.S. Yeddyurappa.
Nirani reiterated Yeddyurappa\\\'s stand that the state government would
provide all kinds of assistance to the automobile major.
He said the state would meet any reasonable demand made by Tata Motors.
Earlier today, Tata Motors Managing Director Ravi Kant said for the small
car plant the company would require nearly 1,000 acres of land.
Kant said the state government has offered assistance for the project.
\\\"Whatever they (Tata Motors) want for Nano we are ready to give. Already
we are having about 500 acres (in Dharwad),\\\" Nirani said.
The second round of discussions is likely to happen within next 15 days.
\\\"What they (Tata Motors) are telling is we will discuss in detail. We
will come back to you (Karnataka government) in 15 days. About two-three
meetings are necessary,\\\" he said.
Nirani said he along with senior officials was willing to go to Mumbai to
meet Tata Motors Chairman Ratan Tata if he was preoccupied to travel to
Bangalore.
Tata Motors already has a site in Dharwad and the company is in the
process of setting up a bus manufacturing facility through its joint venture
company Tata Marcopolo Motors Ltd.
Tata Marcopolo Motors Ltd is a 51:49 joint venture between Tata Motors
and Brazil\\\'s Marcopolo S.A. to manufacture and sell fully built buses and
coaches.
Tata Marcopolo Motors Ltd along with Telco Construction Equipment Company
Ltd, the construction equipment arm of Tata Group, has nearly 700 acres of
land in Dharwad.
At 2:52PM, shares of Tata Motors Ltd were traded at 414.50 rupees on
National Stock Exchange down 0.79% from Wednesday\\\'s close. End
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NSE sector indices, ratios as on Sep 18
Thursday, Sep 18
.
MUMBAI - National Stock Exchange\'s sector indices and valuation ratios:
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Indices prev close open high low last % change
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S&P CNX NIFTY 4,008.25 4,005.25 4,050.10 3,799.55 4,038.15 0.75
S&P CNX DEFTY 3,001.00 2,974.00 3,006.30 2,820.95 2,995.55 -0.18
S&P CNX 500 3,169.00 3,017.50 3,176.60 3,007.60 3,169.75 0.02
NIFTY MIDCAP 50 1,924.90 1,894.40 1,917.05 1,812.40 1,910.75 -0.74
CNX NIFTY JUNIOR 6,319.55 6,138.50 6,340.15 5,939.00 6,307.10 -0.20
CNX MIDCAP 5,211.55 4,998.85 5,158.75 4,950.00 5,149.05 -1.20
CNX IT 3,511.85 3,422.50 3,520.70 3,300.60 3,449.35 -1.78
CNX 100 3,806.65 3,680.20 3,838.85 3,608.75 3,829.95 0.61
BANK NIFTY 5,912.50 5,692.65 6,101.80 5,551.70 6,077.20 2.79
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Indices P/E ratio P/B ratio yield
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S&P CNX Nifty 17.35 3.36 1.41%
CNX Nifty Junior 12.66 2.23 1.43%
CNX IT 16.17 4.74 1.81%
Bank Nifty 13.38 1.77 1.50%
CNX Midcap 11.25 1.90 1.87%
CNX 100 16.50 3.14 1.41%
CNX PSU Bank 9.09 1.40 2.08%
NIFTY MIDCAP 50 10.63 1.95 1.97%
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P/E ratio: Price earning ratio
P/B ratio: Price book value ratio...
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Car makers’ efforts to boost the sale of liquefied petroleum gas (LPG) variants may just become more challenging, with the LPG price rising nearly in the same proportion as that of petrol. Auto companies contend that with both fuels offering almost the same mileage, the increase in LPG prices in the last few months vis-a-vis petrol is narrowing down the cost advantage for customers.
From May to August, LPG prices have risen from Rs 33 to Rs 37 a kg, while petrol has turned costlier by Rs 5 to Rs 50 a litre (Delhi).
“Last year at this time, LPG prices were around Rs 28 a kg. The jump in prices has made the fuel unviable. While compressed natural gas (CNG) at the current price is a viable option, its availability only in select areas makes it difficult to propel the sales of the variant in large volumes, ” Mr Nitin Seth, Head-Car Product Group, Passenger Car Business Unit, Tata Motors, told Business Line.
Currently, LPG variants are available on M-800, Omni, WagonR-Duo, Accent and Indica. CNG models include Swift, Wagon-R Versa, Accent, Ford Ikon and Indigo.
Component makers such as Minda Industries who supply LPG kits also find a lukewarm response. “We expected to sell 5,000 LPG fitment cars monthly, but are falling short of target with just 2,000-3,000 leaving the shelves,” said Mr N K Minda, Chairman and Managing Director, Minda Group.
A similar concern was expressed by a top official of a leading car company. “Assuming that in future the quantum of petrol price increases will be much higher than LPG’s, we hope that customers will opt for such variants,” he said.
Better option
With CNG prices still competitive, car makers weigh it as a better option. While the initial cost of converting the car to CNG is Rs 35,000-48,0000 as compared to Rs 15,000- 25,000 for LPG, its running cost is much lower. This is due to the low prices of CNG at Rs 19 per kg, translating into Rs 1.50 paise a km as against Rs 2.50 –Rs 3 a km for LPG and Rs 4 for petrol
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Jet fuel price may go down 25% (ToI)...
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India\'s passenger car sales fell year-on-year for the second consecutive
month in August. According to Society of Indian Automobile Manufacturers,
passenger car sales in August declined 4.4% on year to 94,584 units. The
August sales were, however, 7.8% higher than a month ago. The decline in sales come at a time when automobile companies are already facing margin pressure due to rise in input costs. The outlook on passenger car sales looks grim in the short-run given that interest rates are likely to remain up on high inflation rate.
Well, Y-O-Y, it was expected to fall only, so nothing to feel negative about it, but surprising to me is they are still maintaining an increase on the M-O-M basis, that is commandable and I think auto industry will sail through this tough time with less margins but still considerable volumes. Still, in terms of valuations, outlook remains sub dued at present.
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Airlines to cash in on festive rush, hike fares during Diwali....
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Airline companies to opt for trading in aviation turbine fuel futures
as the multi-commodity exchange plans to modify ATF contracts. (FE, Sat)
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Singur deal looks done.
The meeting between the West Bengal government and the Opposition in the presence of governor, Gopal Krishna Gandhi, seeking a breakthrough in the Singur impasse, appeared to have achieved success with the state accepting the ‘land for land’ formula, and offering 47 acres inside the factory complex now held by WBIDC and another 27 acres acres held by the power department inside the factory complex, along with state held (or ‘khas’) land of 43 acres and unclaimed land of 5 acres nearby.
-BS
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Udayan's Market Outlook
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Gear up for tough morning today | |
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| Udayan Mukherjee, Stocks Editor, TV18 | ||
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